Posts tagged "FAVORIOT"

How Do I Start My IoT Project Without High Investment?

July 5th, 2017 Posted by HOW-TO, NEWS, TIPS 0 thoughts on “How Do I Start My IoT Project Without High Investment?”

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Start Your IoT Journey

#AskIoTWorld Question #4:

How do I start my IoT Project?

Response:

Simple answer – it depends on where do you stand? Assuming that you have the necessary knowledge and skills to develop an IoT project, take the following steps:

  1. Go out there and find a business case. Good market research report can give an indication but the market can be different in different countries. Thus, you need to be out there and find a real business case. Talk to the industry, talk to the customers and listen to their pain points.
  2. The low hanging fruit is to replace manual labor with remote monitoring. Costs can be greatly reduced. No more traveling costs and time-consuming data gathering. By doing this, you are also benchmarking their operations.
  3. The best part of benchmarking is that you can now introduce more sensors, actuators, analytics to gain better insights and thus ROI can be easily seen and predict.

This is just the beginning of your IoT journey. Take a simple step forward, understand their business case, learn, change if it doesn’t work, expand if it begins to show the ROI.

You can DOWNLOAD the eBook – HERE.

[Note: You can #AskIoTWorld with any IoT-related questions and we will try to answer in this Blog]

How to Embark on IoT Business

July 4th, 2017 Posted by BLOG, HOW-TO, TIPS 0 thoughts on “How to Embark on IoT Business”

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#askiotworld #3:

I am very interested in IoT and would like to embark in this business. How do I start?

Response:

Everyone is excited about IoT, its potential and the promise of billions of connected devices including trillions of dollars in the business. But many are confused how to start their IoT venture.

Everyone is excited about IoT, its potential and the promise of billions of connected devices including trillions of dollars in the business. But many are confused how to start their IoT venture.

Here are my suggestions:

  1. Start by finding the right vertical, market segmentation and customers that have the right mindset to change and money to invest in their digital transformation journey i.e. customers that are WILLING and ABLE to spend money on IoT.
  2. Find their business case and pain points to solve
  3. Check your strength to deliver the solution based on the following IoT value chain. Note that there is no single company can deliver an end-to-end solution. Even big companies require smaller companies to support their delivery ecosystem.

Select one (or more) of the value chain and be very good in delivering that “chain”:

  1. End-device components
  2. End devices and sensors
  3. Embedded operating systems
  4. IT, network and OSS infrastructure
  5. Security
  6. IoT Middleware
  7. Cloud infrastructure
  8. Analytics applications
  9. Visualization applications
  10. Management and applications enablement software
  11. Service providers
  12. Vertical products and solutions
  13. System integrators

The DNA of Internet of Things (IoT)

June 30th, 2017 Posted by BLOG, Internet of Things, IOT PLATFORM 0 thoughts on “The DNA of Internet of Things (IoT)”

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What’s your DNA?

 

As stated in the article written by Kasey Panetta “7 Technologies Underpin the Hype Cycle for the Internet of Things, 2016

The IoT itself will help digital transformations but will take 5 to 10 years to gain mainstream adoption,” said Alfonso Velosa, research vice president.  The IoT remains on the peak of inflated expectations for the third year in a row as vendors push the hype even higher, but most companies struggle to find use cases beyond proof-of-concept.”

CIOs will be responsible for the implementation of IoT but given the diversity of technologies, it will be difficult to get all the right skills in-house. This will the main factor why many companies failed to plan or even execute the IoT strategy. The companies don’t have the necessary building blocks which I termed as “DNA”.

What’s the DNA of Internet of Things?

DNA comprised of three building blocks:

  1. D – Digital Transformation
  2. N – Networks
  3. A – Applications

What differentiates a successful planning, execution, implementation, and adoption of IoT in a company is their maturity of their DNA.

  1. It’s an utmost important factor to get the mindset ready with their strategy in adopting Digital Services within the company. We might be talking Digital Economy or Big Data Analytics whatsoever but without a Champion that can break down all the barriers especially in the mindset, that company will be doom within the next 3-4 years when everyone else has increased their productivity multiple folds and create new revenue streams by adopting digital services. Both front-end and back-end systems must be in digital form. Interacting with customers no longer sufficient with a human but must extend the reach using online and mobile services. We have to do away with pen and paper process to be more competitive. Everything MUST be in digital format otherwise your business will be eaten away by your competitor.
  2. Taking control of your assets utilization and understand how your customer use your products are very important. Thus, the assets MUST get connected to allow the companies to monitor their pattern of usage. Find the best connectivity options regardless whether it’s inside a building or outside. It can be either a fixed or wireless, short-range or long-range, low-speed or high-speed network – everything depends on the kinds of data that the sensor transmits.
  3. Get ready to transform your new process workflow. It will never be the same again. IoT will break down unnecessary barriers and automate the process flow. You might face some resistance internally when these new processes will obsolete many manual tasks and jobs. However, with the new process, you might need new applications to manage and thus new jobs are created. Thus, you will see many applications are custom built due to the legacy systems that need to be integrated. But it also opens up unlimited possibilities for new applications to be created for companies who wish to replace their old systems or just wanting to adopt a new business.

IoT is a journey and every journey needs to start with a single step. Along the journey, you might encounter different barriers and probably different options to arrive at the same destination. Choose the path that suits you because every company has its own DNA.

Ask yourself – Do you have the DNA of Internet of Things?

dna-1388692_1920.jpgThe importance of understanding our own DNA

About the Author

Dr. Mazlan Abbas is currently the Co-Founder and CEO of FAVORIOT Sdn Bhd. He is an IOT Evangelist and a Thought Leader. He received an award as 50 Most Impactful Smart Cities Leaders by World CSR 2017. He is ranked No. 20th Thought Leader in IOT by 2014 Onalytics Report – “The Internet of Things – Top 100 Thought Leaders”, ranked Top 10 in IoT Top 100 Influencers by Postscapes 2016/2017, ranked Top 100 in Smart Cities Top Experts by Agilience Authority Index May 2016. He is also a Global Vision Board Member. You can reach him on LinkedIn or Twitter. Check all his presentation slides HERE.

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